UK Govt publishes ‘The Economic Crime Act 2022’

Civil monetary penalties can be applied to persons for breaches of financial sanctions with no requirement for the Treasury to prove that the person had knowledge or reasonable cause to suspect their activity breached sanctions…

OFSI GL on telecoms and news media services

A Person, other than a Person designated under Regulation 5 of the Russia Regulations, may continue business operations involving the provision of Civilian Telecommunication Services including, but not limited to: Payments to or from the DP under any contracts or...

UK issues Russia GLs for charities & media

OFSI has issued General Licence (GL) INT/2022/1834876, “Russia Designated Persons – Charities and Interim Managers and trustees” ( Notice ), which authorises until 30 May 2023 an Interim Manager and/or trustee…

UK issues licence for sale of Chelsea Football Club

The sale of Chelsea FC to US investor Todd Boehly has been approved by the UK Govt, bringing a close to Russian billionaire Roman Abramovich’s near 20-year ownership of the football club. The approval of the £4.25 billion ($5.3 billion) sale…